Budget 2012

The annual budget provides resources for the management and delivery of public services such as snow removal, the supply of drinking water, Public Security and Recreation activities. The principal source of financing is from the municipal property tax bill. As well, other revenues are generated either from permits, program fees and transfers from other levels of government.

Overall, the 2012 operating budget for the Town of Hampstead totals $12,838,453, not including $9,524,310 for the Agglomeration's share. The Town projects an accumulated operating surplus of $1.1 million as of December 31, 2011. In terms of long-term debt, the Town is projecting an amount of $11,985,800 at the end of 2012, a total reduction of 12.6% since 2009, while financing costs have dropped 34% in the last two years.

Property Tax Rates

For the fifth consecutive year, Hampstead local property tax rate increases have been kept below the rate of inflation. Local property tax rates will increase by 1.9% in 2012, well below the expected inflation rate for this year. This responsible and reasonable increase is in stark contrast to the growth of the Agglomeration share charged to Hampstead, which will jump 3.3% next year. The average tax increase to Hampstead ratepayers will therefore total 2.6% in 2012.

In 2012, the municipal tax rates (per $100 of valuation) will be:

Property Type

Mill Rate

For residential properties containing 5 housing units or less

$1.2167

For apartment buildings with 6 or more units

$1.2457

Vacant lots

$2.4334

With a residential rate of $1.2167, the ‘average single-family dwelling' will be assessed a 2012 Hampstead tax bill of $11,231. It must be stressed that this example reflects the impact of the taxation rates on the average single-family dwelling. Tax bill increases/decreases will vary depending upon the change in valuation of each individual property.

Capital Works Program 2012-2013-2014

The 3-year capital works program encompasses the programs that the Town wishes to undertake in the coming three years to maintain and upgrade its infrastructures and/or improve the quality of urban life. Different sources of financing are available through long-term loans which account for the debt of the Town. The annual capital and interest payments made to repay this debt are integrated in the operational budget and make up part of the financing costs. Each project needs to be individually approved by council.

Using proceeds from the upcoming sale of the vacant Macdonald Avenue Fire Station, the Town has planned an ambitious yet necessary capital works program for the coming three years to renew aging infrastructure. Over $4 million will be invested into major roadworks, including the completion of the reconstruction of Fleet Road as well as major repaving projects for sections of Queen Mary Road and Netherwood Crescent. Significant efforts to rehabilitate the street light, sidewalk and water networks will also continue.

CATEGORY

PROJECT

2012

2013

2014

Vehicle and Equipment

Vehicles replacement program

150 000

Information Technology

Wimax/WIFI communication network

170 000

Municipal Installations

Town beautification projects

50 000

50 000

50 000

Tennis lights

14 000

Tennis court - rest area

18 000

Tree planting

25 000

25 000

25 000

Municipal yard - catch basin

29 000

Infrastructure Rehabilitation

Water mains & sewers

650 000

830 000

Street light rehabilitation

112 000

46 000

46 000

Sidewalk rehabilitation

155 000

Roads network rehabilitation

4 073 000

444 000

485 000

Parks and Green Spaces

Wexford Park rehabilitation

25 000

Various park upgrades

76 000

140 000

90 000

TOTAL – Capital Investments

$ 5 379 000

$ 1 703 000

$ 696 000

Documents for Download

Supporting documents for the 2012 budget are available for download below: